McEwen Mining Inc (NYSE:MUX) Director Purchases $19,125.45 in Stock

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) Director Nicolas Darveau-Garneau purchased 2,285 shares of the stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $8.37 per share, for a total transaction of $19,125.45. Following the transaction, the director now owns 2,285 shares in the company, valued at approximately $19,125.45. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

McEwen Mining Stock Performance

Shares of MUX stock opened at $8.73 on Friday. The company has a market cap of $461.99 million, a P/E ratio of 3.99 and a beta of 1.43. The firm has a fifty day moving average price of $9.26 and a 200 day moving average price of $9.47. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining Inc has a 12 month low of $5.92 and a 12 month high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $52.25 million for the quarter, compared to analyst estimates of $48.60 million. During the same period in the previous year, the business posted ($0.39) EPS. Sell-side analysts predict that McEwen Mining Inc will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MUX shares. Roth Mkm decreased their price target on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. HC Wainwright lifted their price objective on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th.

Hedge Funds Weigh In On McEwen Mining

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC lifted its stake in shares of McEwen Mining by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock worth $1,422,000 after acquiring an additional 2,632 shares during the period. Virtu Financial LLC increased its position in McEwen Mining by 32.3% during the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 4,046 shares in the last quarter. Geode Capital Management LLC boosted its position in McEwen Mining by 5.8% during the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock worth $4,383,000 after acquiring an additional 25,844 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in McEwen Mining during the third quarter worth about $176,000. Finally, Quarry LP acquired a new position in McEwen Mining during the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen Mining

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.